JAKARTA (Yosefardi) – Investors sold off shares of giant coal miner PT Bumi Resources Tbk (BUMI) on Monday (December 1), leading the stock to drop by 9.2% to Rp79 at 2.25 pm Jakarta time with over 85 million shares exchanged hands.
BUMI informed on Friday last week that it will release its financial report for third quarter of 2014 by end of December.
In November 21, 2014, PT Bumi Resources Investment had signed conditional share purchase agreement (CSPA) with Jainson Holdings Hong Kong Limited for divesting 500 shares of Leap Forward Resources Limited, 50% of total company’s shares, which indirectly owns PT Fajar Bumi Sakti, holder of thermal coal concession.
Both parties had agreed the transaction value of US$140 million, used to pay debt to certain creditors.
Meanwhile, composite index of the Indonesia Stock Exchange (IDX) regained 0.2% to 5160 at 2.38 pm Jakarta time after the Central Bureau of Statistics (BPS) released November inflation and October export and import data.
BPS said Indonesia posted trade surplus of US$23.2 million in October 2014, compared to deficit US$270 million in September 2014.
Investors focused buying construction stocks. Waskita Karya jumped 5.26%, PTPP gained 4.58%, Adhi Karya rose 2.16%, and Wijaya Karya hiked 3.83%.
Other gainers were Bank Negara Indonesia (+3.32%), Bank Rakyat Indonesia (+1.52%), and Bumi Serpong Damai (+2.26%).
While Vale Indonesi dropped 3.89%, Timah fell 2%, Aneka Tambang slashed 1.53%, Bumi Resources Minerals shed 5%, London Sumatera declined 2.5%, and Jababeka lost 2.2%.